JEJU – A crucial meeting between trade representatives from Taiwan, South Korea, and the United States took place on the sidelines of the APEC forum on South Korea’s Jeju Island, with the primary aim of shielding their economies from steep tariffs imposed under US President Donald Trump’s trade agenda.

Taiwan’s Deputy Prime Minister Cheng Li-chiun, as reported by Reuters on Friday (16/5), stated that bilateral trade discussions between Taiwan’s chief negotiator, Jenni Yang, and US Trade Representative Jamieson Greer had yielded hope for closer economic cooperation.

Taiwanese Prime Minister Cho Jung-tai, speaking at a press conference marking one year of Cheng’s leadership, said Taiwan remained optimistic about balancing its trade with the US through increased purchases of American products.

According to an official government statement, the discussions took place during a trade forum at the APEC summit on Jeju Island.

Taiwan had previously been hit with import tariffs as high as 32% on certain products under Trump’s trade policies, although these duties were suspended for 90 days starting last month.

In response, Taiwan pledged greater investment and increased procurement of US goods.

Meanwhile, South Korea also acted swiftly. South Korean Trade and Industry Minister Ahn Duk-geun was scheduled to meet Greer on Friday in hopes of making significant headway toward avoiding new US tariffs, particularly in the automotive sector.

President Trump previously imposed tariffs of up to 25% on Korean-made vehicles — a major blow to South Korea’s economy, which heavily depends on automotive exports, accounting for 27% of its shipments to the US.

South Korea, which recorded a USD 66 billion trade surplus with the US last year, has become one of Trump’s main targets for retaliatory tariffs.

To ease tensions, South Korea proposed a “July Package” in an earlier meeting with Greer in Washington, which includes increased imports of liquefied natural gas (LNG) from the US and enhanced cooperation in shipbuilding.

Greer also met with Chung Ki-sun, Vice Chairman of HD Hyundai, South Korea’s largest shipbuilder. It marked the first direct meeting between a US trade representative and a Korean shipbuilding executive.

HD Hyundai stated that the talks covered collaboration with US shipbuilder Huntington Ingalls Industries. Additionally, Greer is scheduled to meet the CEO of Hanwha Ocean, which provides maintenance services for the US Navy’s fleet.

Through this intense trade diplomacy, both Taiwan and South Korea hope to steer clear of Trump’s protectionist measures, which pose a threat to East Asia’s export-driven economies. (EF/ZH)